Bitcoin Forum

Good read about the top stablecoins in the space. Which ones are your favorite? My personal favorite is Havven.

Article: http://www.tradersmagazine.com/news/cryptocurrencies/the-crypto-stable-coins-that-you-need-to-know-about-117854-1.html

I'll copy/paste here:

They are the latest craze for sure.

This website is doing a very good job of trying to track them all. Yet their others not listed on it.
https://stablecoinindex.com/projects/



My favorite coming up is BitBay's soft peg.

It's not in the spot light yet because the whitepaper hasn't been released yet. The developer doesn't want too many copycats before the cat is out of the bag.  The release date for the whitepaper is on July 13th. BitBay.Market

It will have a much more advanced protocol than any other I've researched to date. No collateral is needed. And since collateral requires trust, the BitBay peg is truly decentralized. Based on the stablecoin website I provided, BitBay would be closest to the 'algorithmic supply stablecoin' category but because it also allows coin holders to vote through staking on what they believe is fair market price, then it doesn't rely solely on an algorithm to stabilize it. Thus, it is sort of in a hybrid algorithm category of it's own.

Since it's a soft peg, it doesn't have to maintain a single value. It can still fluctuate, yet it removes the volatility, and therefore allows for users to circulate it as a currency without the fear of losing significant profit potential.

BitBay's soft peg will be the first peg in the history of crypto that will apply a peg to the coin after the ICO has been launched. This is going to make things interesting because the value of the peg has yet to be set in stone once released in September of this year. how the market reacts to the peg before the release will determine the starting price once implemented.
The point being is that while all the other stablecoins are starting out as an ICO, and as far as I know all or mostly 'hard pegged', then there is little room for early adopters to reap any benefits. Yet BitBay's peg implementation has the ability for people to speculate and potentially lock in a nice ROI by the time the peg is released. As time and interest progresses the developer will be able to determine best starting price.
BitBay's peak price was just over 0.40 USD in January of 2018. Currently it's selling around 0.022 USD. The developer has mentioned that it won't be anywhere near it's current value.

There are many benefits of being a soft peg over a hard peg. My main curiosity comes from the comparison of how day traders can use a soft peg to their advantage over a hard peg in regards to strategically hedging their capital back and forth between other 'volatile' cryptocurrencies. A soft peg allows for the trader to hedge in a way that opens the possibility of higher ROI compared to a hard pegged currency, because the price of a soft peg can fluctuate while hedging. And with the current state of the industries price movement being in a prodominantly positive correlation to the price movement of Bitcoin, then the idea that BitBay can provide a higher ROI from hedging would be the natural result, i.e., if Bitcoin goes down in value, demand for BitBay will go up and drive price up. And visa versa, when Bitcoin goes up in value, hedgers would return back to Bitcoin (and others). The early bird trader would catch the biggest worm in the process of it all. Where as a hard peg only secures your capital at the expense of a loss due to market spread and trade fees.

There are so many other things to discuss about it's design. But the main purpose of the matter is that BitBay will be the first coin in the industry to have solved Crypto 1.0 and Crypto 2.0, which are the ability to trustlessly remove the middleman in it's entirety, and the ability to stabilize the price so that it can actually be used as a currency.

Again, 2 weeks till the whitepaper is released. So far the BitBay developer has yet to see any other stablecoin whitepaper remotely close to his approach at solving volatility in a trustless manner.
BitBay.Market

Once the paper is released BitBay will go in full marketing mode for it.

@cr197 thanks for bringing this up
BitBay will have a go into stablecoin land in a matter of 2-3 months with a working version of dynamic peg thus its going to be battle tested
so it does not matter if it is mentioned anywhere as it can prove its value on usage ...

Interesting article. Was a good read. However, I don't think that there is a stable coin or token in this extremely volatile cryptocurrency market. Every single coin and token is prone to extreme fluctuations in the short term and long term in this sensitive market. Among the coins mentioned in the article, Havven seemed legit in my opinion while Tether seems unreliable after the recent drama in my opinion. Never heard about TrueUsd and MakerDao, but they have definitely peaked my interest currently.

True Usd seems to be a pretty safe option. Also, i like Havven because it will be a decentralized version of stablecoin, and this is what the community wants from crypto- complete decentralization. 

stable coin does not fit my crypto money mantle according to me. I think that's what broke the decentralization situation in crypto money.

yeah, I still ETH. actually, stable coin can't be predicted. there is a lot of things can be influencing it but as long as it coin can make a profitable I say that's a coin is stable.

Havven is my favorite for many reasons:

-decentralized
-not pegged to fiat
-dual token system is very interesting
-great team
-lots of partnerships
-been committed to delivering on their timeline ahead of time
-the dual token system is very fast

I can see some others have beaten me to it - I’d also suggest adding BitBay to the list of stablecoins to watch. Havven is interesting but after researching them all (including the over-complicated ‘Reserve’) it seems the only truly decentralized and dynamic solution will be from BitBay.

https://bitbay.market/dynamic-peg

This is from their site: “BitBay’s democratic voting system allows for maximum resilience and elasticity during extreme volatility. In addition, $BAY’s liquid supply can also be tied to a basket of separate currencies, assets, or commodities as necessary.“

Their lead dev is David Zimbeck, the same guy who created the first ever smart contract GUI so I’m watching this with anticipation...

dude stop shilling bitbay. out of all of those options, havven is my favorite. besides your shilling, I will look into them and see what you're tlaking about

One of the most stable coins is NEM. This is a platform with a high transaction speed, it can carry ICO. NEM has an open system, so it's always possible to track the turnover of funds. With the help of NEM, it will not be possible to finance terrorism or launder money. It can be integrated into the traditional financial sector, for example, for accounting. It runs 3 times faster than the Visa payment system. Than not a world single crypto currency for the planet Earth)))

hm, haven't heard of them. I've been an avid follower of havven just because they are on mainnet and exchanges. Great project nonetheless

Good breakdown IMO. I just think that he's missing some info for Havven since nUSD is already launched on mainnet.

NEM is not a stable coin,the value depends on supply and demand just like bitcoin or other cryptos.Stable coin means the coin like USDT and USDC where the value of coin backed by fiat value and centralized.

I've invested on that before, not knowing that when you buy, you should buy enough so that trading platform such as binance will not going to cut your funds. I just bought a small amount and later I couldn't withdraw it. But the fact that I see stable coin beneficial is that, it saves my funds when bitcoin drops horrible.

That is awesome Justin sun and team working on multiple projects and make them collaborating with various altcoins and new projects. For example we can take BTT which came last few months before.
They are collaborating with USDT and made available on their network, it is great news for the investors.

Expecting more news about TRX and USDT soon. :) :) :)

Works as a part of 2018. There are lots of new already so must be an upgrade ate literally. TRON worth attention

Havven is a great stable coin, I have invested in this project during ICO and I am still using it. But people should know more about existing stable coins and put their fingers away from Tether, the worst stable coin in my opinion.